This chart illustrates a potential Wyckoff Distribution Event, signaling a bearish reversal pattern. The rounded top formation suggests distribution at higher levels, with multiple LPSY (Last Point of Supply) indicating selling pressure.
Key takeaways:
Upthrust (UT) in Phase B marked as a key rejection zone.
While people are watching the green lines, i believe that we get one last shakeout.
CME Gap at ~$78K has a 69% probability of being filled, acting as a potential target.
The overall structure suggests that Bitcoin could experience further markdown phases unless a strong bullish reclaim occurs. Traders should monitor support levels around $94K and $78K while considering potential short setups.
Stay safe fam!
Key takeaways:
Upthrust (UT) in Phase B marked as a key rejection zone.
While people are watching the green lines, i believe that we get one last shakeout.
CME Gap at ~$78K has a 69% probability of being filled, acting as a potential target.
The overall structure suggests that Bitcoin could experience further markdown phases unless a strong bullish reclaim occurs. Traders should monitor support levels around $94K and $78K while considering potential short setups.
Stay safe fam!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.